Triple Energy to acquire Xian Moke, including four CBM blocks in China

Australia's Triple Energy Ltd. has entered into a non-binding letter of intent (LOI) with Xian Moke Industrial Co. Ltd. (Moke) to acquire 100% ownership of Moke and consequently an operating interest in up to four coalbed methane (CBM) blocks located in the Ordos Basin of Shaanxi Province in China.

The LOI includes total of four blocks covering around 146 square miles (378 square kilometers) in the Ordos Basin of Shaanxi Province in China. The Tongchuan Block already has eight CBM wells drilled, with seven currently on test production. The Wang Feng Block has four wells drilled to date, with two on test production and a full field development plan that is under way.

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